Bullish Options Traders Look for More Upside in GE Rebound

by | Mar 9, 2022 | Options

In Wednesday’s Blitz Daily with Lance Ippolito, we take a look at cornerstone industrial company General Electric as its shares continue to climb after announcing a new stock buyback program.

The markets caught a much-needed bid Wednesday after two lackluster sessions to start the week. 

The move higher is welcome news for GE shareholders who watched the company print a 52-week low on Monday.

GE’s momentum began to turn on Tuesday after it authorized a new $3 billion program to repurchase shares on the open market. 

The news helped power a two-day 9% rally as bullish traders poured back into the stock and options chain. The Blitz Tracker spotted one trader sweeping up more than 2,400 contracts of the March 11 $94 strike calls for more than $207,000 in premium!

Of course that wasn’t the only order flow hitting the tape Wednesday… 

  • General Electric Co. (NYSE: GE): March 11 $94 CALL. 
  • Uber Technologies Inc. (NYSE: UBER): May 20 $30 CALL.
  • Roblox Corp. (NYSE: RBLX): March 18 $35 PUT.

Check out my short video and I’ll break down the day’s most unusual options order flow in no time flat!  

And to find out how I trade Shadow Blitzes like these as soon as I see them, check out my Weekly Blitz Alerts strategy!

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Blitz Daily With Lance Ippolitto

At Weekly Blitz Alerts, we like to print money, baby! I know, I know, you’re probably thinking, “Lance, how do we do that? Print money? Come on…”  

But in all seriousness, we follow the big fish and what they’re buying. And we do that with my proprietary Blitz Tracker, which alerts me to big, institutional options order flow throughout the day. Then we get in on these plays and follow the “smart money.”  

By doing this, we cash in whether the broader market is going up, down or sideways. 

The Blitz Daily with Lance Ippolito is where I go over a handful of options trades that hit my Blitz Tracker each day, Monday through Thursday. I will break down the trade with the sexiest order flow and tell you exactly what I think can happen with that stock by the next day’s opening bell. 

If you want in on these fast-moving options plays, with entry, exit and profit targets sent directly to you via text and email alerts, be sure to sign up for Weekly Blitz Alerts!  

In the meantime, you can follow me @LanceIppolito on Twitter, Instagram and our YouTube channel for more trading insights and tips. And as always, you can find me right here talking stocks and options trading — and printing money — on WealthPress.com!

WRITTEN BY<br>Lance Ippolito

WRITTEN BY
Lance Ippolito

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